State Bank of Mysore Personal Loan

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State Bank of Mysore is one of the finest public sector banking organizations established in 1913. It is known for availing personal loan schemes to the customers in South India. A subordinate of State Bank of India, State Bank of Mysore is a trustworthy financial institution spread over 1000 locations across the country.

State Bank of Mysore Personal Loan Tenure:

Minimum of one year to the maximum of three years is the holding period availed on personal loans by State Bank of Mysore.

State Bank of Mysore Personal Loan Utilization:

The individual availing personal loan from State Bank of Mysore can use it to fulfill his/her financial needs and spending such as traveling, college education fee, organizing marriages and more.

State Bank of Mysore Personal Loan Amount:

Depending on the borrower’s credit history, financial situation and loan repayment capacity, State Bank of Mysore avails personal loans to the individuals. However, Rs.50000/- is the minimum loan amount provided by the bank whereas; Rs1.5 lakhs is the maximum loan amount one can avail from the bank.

State Bank of Mysore Personal Loan Interval:

Three years is the maximum loan interval offered by State Bank of Mysore and one year is the minimum loan interval.

State Bank of Mysore Personal Loan Interest Rates:

The maximum of interest of 17.5% can be pegged on personal loans offered by State Bank of Mysore.

State Bank of Mysore Personal Loan Processing Fee:

The one-time processing fee attached with personal loans offered by State Bank of Mysore is 1% of the total loan amount.

State Bank of Mysore Personal Loan Security Criteria:

State Bank of Mysore accepts different forms of securities when applied for a personal loan such as National Savings Certificates, Shares, KVIP as well as third party guarantee of equal means.

State Bank of Mysore Personal Loan Eligibility Criteria:

The minimum age of the applicant while applying for the personal loan at State Bank of Mysore should be 21 years and those above 58 years of age can’t apply for the personal loan.

The applicant must be employed and must draw the minimum salary criteria of Rs.6000/-.

State Bank of Mysore Personal Loan Required Documents:

The applicant’s identity proof like Aadhar Card, Voter ID, etc.

Applicant’s bank passbook of the past six months or bank statement of past three months.

For salaried individuals, the bank will ask for latest Form 16 along with salary certificate and latest salary slip.

For self-employed individuals, the bank will ask for their latest income tax returns along with their latest bank statement.

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State Bank of Mysore Personal Loan

I have a Personal Loan with State Bank of Mysore. The loan disbursement was on time and document procedure
was quick. I would say it was a satisfactory experience.

Priyadarshani. C

MumbaiNovember 19, 2018

Personal Loan

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Taking personal loan in Gujrat by State Bank of Mysore through online portal of loanbaba was after all not a bad idea. This way I could communicate with the State Bank of Mysore without having to come over to their branch. All by documentation was sorted and I got the loan in decent time.

Salman Shaikh

MumbaiNovember 18, 2018

Personal Loan

starstarstarstarstar13.0/5

The State Bank of Mysore has disbursed the loan amount required and I am satisfied with it. The interest rate and the charges are average.

Nilima Gaur

MumbaiNovember 18, 2018

Personal Loan

starstarstarstarstar12.0/5

Personal loan by State Bank of Mysore was perfect, but the turnaround time is something they can work upon.